The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-06-05
SENSATION In ATLANTA
PHELAN'S HEAVY FAILURE
TALK OF THE HOUR.

1
lantians Caught on the MarginA
Life insurance Company Applied
a Mandamus-A Florida Postmasta
| Appeals for Help--W Whitfield Count,
Wants Holman Hung.
! ATLANTA, GA, June At was nn
nounced on the streets this afternoon that s
| H. Phelan had failed, and the announcement
| produced a sensation in the business circles
| The liabilities are about $500, 900 andthe as
sets are practically nil. His failure carrie
down the Atlanta Produce and Cotton sEz
change, Of which he was head and the branch
exchanges in Charlotte, Birmingham, Mont
gomery, Selma and Savannah. Mr.. PheIaf.,.
was seen tonight by your correspondent 81
his office. He was very much deprtsNe "a
but fun of nerve and pluck He said: ~
failure is complete. owe about S300AQ4
| have nothing on hand with whfH1
to pay it, / simply paid out every dollafi 81
| had, hoping that the market would tiifIs
and that could recoup my losses. WheE
my money was gone, and not until then,
closed my business 'When did you Know
| YOU had faiedr was asked ''Yefer
| terday morning / received a telegram
from Henry Henitz, of New York, who had
often backed me for any amount within
I
would need about $50 600, and wrote biIa
| for it, He telegraphed me that he could NOT
advance it. received this dispatch Friday
night, and on Saturday morning knew
must give up ] had mortgaged my prop
| erty in order TO carry ON the business, and
had no resources.
WHERE THE MONEY WENT
"Where did you make your lossesr' asked
the reporter.
1--WE lost 500 900 in pork about Tires
months ago. Then we lost 5000; thk0 4
! $4,000 in cotton. In two months we hnTf
paid out nearly $1,000 We paid ei{f
losses right along, and might have weathhH Ii
| ed even this storm had it not been that f0 &
coffee market took an upward rise and NI
us heavily. All this combined, simply III Is
hausted what we had made the last five % =
six years"
You have been very successful In
| Atlanta, remarked the reporter.
| Extremely so. | came here with less
than $4,000 and before these losses began,
| was worth considerably over $500 900. II
| has been all swept away in about three
| months, leaving me $1,000 behind"
What are you going to do"
"Plow with mule If | can get nothing
better TO do. | intend 10 live in Atlanta,
4 afid do not intend to be idle have ne1exa,
ben IDLE day in my life since was Old
4 efioiieh 10 earn n living, and ] shall mana14
/ some bow 20 get on my feet again.
| III ~ ANOTHER ACCOUNT. $50
The reported failure of S. II. Phelan, pro
prietar Gate City Produce and Cotton ~.
change was tiie sensation in Atlanta tIi1
afternoof and to.night Definitely unde1<
stood the exchange suspended this affair
noon, carrying with II the branch
| at Montgomery Birmingham and
Savannah. N4be liabilities ar0
estimated az %800,Oo0. PhelnU
| ascribes his failure 10 Henry Henitz a. Ca &
/
| ents who have cut him of, but repnrt I'd
to this that Phelan has been going heayiwiu
| in the market himself. a large uuWotr
business men here, some Of Tia ie4Hie
dealt with Phelan, and it is reFor1ed rnalded
| of them, with margins up are caught, SOD
| of them heavily. Phelan owns some ~
estate in and about Atlanta, but that is ar
ready covered with mortgages. ~
APPLY FOR A MANDAMUs.
The Mutual Reserve Fund Life Associa,
| ton of New York, one of the companies
| whose license TO do business in this State
| was revoked in March, because they failed
TO make their semi-annual returns, applied
10 Judge Clarke to-day for a mandamus TO
compel the Comptroller General TO issue a
license, claiming that as an association and
| q cooperative association they were not re-.
quired under the act to make semi annual
returns. The Comptroller was ordered TO
show cause on June Is why the mandamlis
| ioO 10
JUST SENTENCE.
Several different applications were made
| to-day for the $500 executive reward for
| Henry Pope, tho negro captured near Gads-
den, Ala. charged with the rape of Miss
KendTick, in Chattooga county. Pope was
convicted and sentenced TO be hung on July
/. There will be lively squabble for the
reward.
LYNCHERs TO BE PROSECUTED.
nh RI 4 -
| General TO assist the Solicitor General in
the prosecution of the Moore lynchers in
the Bibb Superior Court next week.
FLORIDA POSTMASTER ASKS AID.
L. Jones, postmaster at Apopka, Fla,
writes the Governor that an effort is being Q
made to GUST him, and appeals TO his a.
| friend and admirer TO help him.
The revenue officers have seized fourte@
packages of corn whisky l496 gallons)
Gilmer county, in the bonded warehouse o.
| j. S. & H. Worley, on the ground the
they were suspected of being Interested - &
the illicit still seized near there last year. g
A petition is being signed and viii be pre-
sented to the Executive by large numh6y
of the citizens of Whitfield county againzt
any Communication of the sentence of Holman3
who is TO hang Friday, and his prospect4
don't look so bright.
| Among the recent worthy cases of di41&
abled Confederates who ask Georgia fot'
assistance remarkable one Is reported Tor
day from Gordon county. A one-legge4 IS
veteran on his back, paralytic for three
years and blind with an invalid wife, seno
word TO the Comptroller that hid
family has been supported
! by his two boys, II and IL years
old, on the farm, but they are sick and the
work on the farm is stopped. He wants TO
! borrow, not beg, money enough (S25 to $3.50
to clean the crop. Other deserving cases
are being heard from, and likely an appeal
win be made to the Legislature for their
| further relief.
The arrest is reported by the post offias -
| inspector at Jacksonville Of W. H. Feiber
and p. Fl. Warang, charged with using the
mails to defraud.
Chipley Notes. ass $500